During the 3rd quarter of 2019, real estate activity in Franklin saw increases in both total sales volume and average sales price.
There was an 6% increase in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Franklin during the 3rd quarter 2019. 1,968 land documents were recorded versus 1,853 during the third quarter 2018.
The total volume of real estate sales in Franklin during the 3rd quarter 2019 was $123,434,401, a 42% increase from the same time period in 2018. The average sale price of homes and commercial property also increased 47% in Franklin. The average sale price was $656,565.
The number of mortgages recorded (458) on Franklin properties during the 3rd quarter 2019 was up 34% from the previous year. Also, total mortgage indebtedness increased 649% to $1,005,324,131 during the same period. These figures were impacted by loans of $450 million and $384 million that were recorded during the quarter against Franklin properties.
There were 3 foreclosure deeds filed against Franklin properties during the 3rd quarter 2019, the same number filed during the 3rd quarter 2018.
Finally, homestead activity increased 8% in Franklin during the 3rd quarter 2019 with 215 homesteads filed compared to 199 during the same time period in 2018.